Skip to Main Content.
Site navigation
Fidelity.com Home
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant Opens in a new window
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant Opens in a new window
  • Log Out
  • Accounts & Trade
    • Portfolio Log In Required
    • Portfolio
    • AccountPositions Log In Required
    • AccountPositions
    • Trade Log In Required
    • Trade
    • Trading Dashboard Log In Required
    • Trading Dashboard Log In Required
    • Active Trader Pro
    • Transfers
    • Cash Management Log In Required
    • Cash Management
    • Bill Pay Log In Required
    • Bill Pay
    • Full View Log In Required
    • Full View
    • Security Settings Log In Required
    • Security Settings
    • Account Features Log In Required
    • Account Features
    • Statements Log In Required
    • Statements
    • Fidelity Alternative Investments Program Log In Required
    • Tax Forms & Information
    • Retirement Distributions Log In Required
    • Fidelity Rewards+registered trademark Log In Required
    • Fidelity Rewards+registered trademark Log In Required
    • New Account Checklist Log In Required
    • Lending Solutions-Line of Credit Log In Required
    • Refer a Friend
  • Planning & Advice
    • What We Offer
    • Build Your Plan
    • My Goals
    • Financial Basics
    • Building Savings
    • Robo Investing Plus Financial Advice
    • Wealth Management
    • Find an advisor
    • Retirement
    • Life Events
    • Saving & Investing for a Child
  • News & Research
    • News
    • Wealth Management Insights
    • Watch List Log In Required
    • Quotes
    • Quotes
    • Alerts Log In Required
    • Mutual Funds
    • Stocks
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Markets & Sectors
    • IPOs
    • Annuities
    • Learning Center
    • Notebook
    • Notebook
  • Investment Products
    • Mutual Funds
    • Retirement & IRAs
    • Stocks and Trading
    • Direct Indexing
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Sustainable Investing
    • Cash Management & Credit Cards
    • Managed Accounts
    • 529 College Savings
    • Health Savings Accounts
    • Annuities
    • Life Insurance & Long Term Care
    • Charitable Giving
  • Why Fidelity
    • The Fidelity Advantage
    • Planning & Advice
    • Trading
    • Straightforward Pricing
    • Insights & Tools
    • Security & Protection
    • Marketplace Solutions
    • About Fidelity
    • Careers
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant Opens in a new window
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant Opens in a new window
  • Log Out
Content and data provided by various third parties and Fidelity − Terms of Use
  • Research >
  • Stocks >
  • News & Events >

Stock Details


  • Snapshot
  • Detailed Quote
  • Advanced Chart &
    Technical Analysis Opens in New Window
  • News & Events
  • Compare
  • Analyst Opinions
  • Research Reports
  • Key Statistics
  • Earnings
  • Dividends
  • Ownership & Insiders
  • Financial Statements
  • SEC Filings

RELATED RESOURCES

  • Stock Research Overview
  • Stock Screeners
  • Markets & Sectors
  • Fidelity Learning Center Opens in New Window
Print Format
Change Text Size:
  • Default text sizeA
  • Larger text sizeA
  • Largest text sizeA

Some European reinsurance rates rise by over 50% at Jan 2022 renewals

BY Reuters
— 4:03 AM ET 01/04/2022

LONDON (Reuters) - Some European property reinsurance rates rose by more than 50% at Jan. 1 renewals after the region suffered record insured losses last year from natural catastrophes such as floods and storms, a report by broker Gallagher Re showed on Tuesday.

Reinsurers insure the insurers, and reinsurance rate rises are often passed onto insurers' customers.

Flooding in July in Germany and other countries including Austria, Belgium and Switzerland caused over 12 billion euros ($13.55 billion) in insured losses, Gallagher Re said in the report on renewals on one of the most important dates in the reinsurance calendar.

Europe also suffered heavy hail and other storm damage last year.

In areas hit by natural catastrophes, reinsurance rates in Germany rose by between 15% and more than 50%, with the same rate rises in Europe as a whole. In Switzerland, such rates rose between 20% and over 50%.

"Reinsurers have managed to achieve further improvements in pricing to build on the increases of the past 18 months," said James Kent, global CEO of Gallagher Re.

Some reinsurers cut their exposure to the region, Gallagher Re said.

In the United States, which last year suffered a major winter storm as well as wildfires, hurricanes and tornadoes, rates rose 10-25% for catastrophe-hit areas.

Natural catastrophes caused global insured losses of $105 billion last year, the fourth highest on record, reinsurer Swiss Re said last month.

Global property catastrophe reinsurance rates rose by 10.8% on average this year, reinsurance broker Guy Carpenter said in a separate report this week.

($1 = 0.8857 euros)

(Reporting by Carolyn Cohn in London and Noor Zainab Hussain in Bengaluru; editing by Barbara Lewis)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

More AJG News

AJG has no more news
Fidelity Investments. Copyright 1998–2022 FMR LLC. 
All rights reserved. 

  • Terms of Use|
  • Privacy|
  • Security|
  • Site Map 
Close